Docusign Envelope ID: DFE8F32B-8BBF-47B4-AAE1-0F768FBE5DD2
CITY OF LIVERPOOL YOUNG MEN’S CHRISTIAN ASSOCIATION (INC)
FINANCIAL STATEMENTS
31 MARCH 2025
Company No 00560870
Registered Charity No 210443 Registered Social Landlord H1720
Docusign Envelope ID: DFE8F32B-8BBF-47B4-AAE1-0F768FBE5DD2
CITY OF LIVERPOOL YOUNG MEN’S CHRISTIAN ASSOCIATION (INC.)
FINANCIAL STATEMENTS
for the year ended 31 March 2025
CONTENTS
| Pages | |
|---|---|
| Company information | 1 |
| Strategic report | 2 – 4 |
| Directors’ report | 5 – 6 |
| Statement of directors’ responsibilities and internal controls | 7 – 8 |
| Auditor’s report | 9 – 12 |
| Income and expenditure account | 13 |
| Balance sheet | 14 |
| Cash flow statement | 15 |
| Notes on financial statements | 16 – 28 |
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CITY OF LIVERPOOL YOUNG MEN’S CHRISTIAN ASSOCIATION (INC.)
COMPANY INFORMATION
31 March 2025
| Registered Company Number | 00560870 |
|---|---|
| Registered Charity Number | 210443 |
| Registered Social Landlord | H1720 |
| President | P Hinton |
| Directors | M Barker |
| W Lawlor (Retired 12/09/2024) | |
| M Compton-Rickett | |
| S Abrams (Retired 31/03/2025) | |
| Revd M Montrose | |
| J Price | |
| R Spowart (Retired 12/09/2024) | |
| C White | |
| M Farran | |
| H Klepper | |
| J Fadden | |
| T Allen | |
| Dr JA Hussey (Appointed 12/09/2024) | |
| Secretary and Chief Executive | E McNeil |
| Registered Office and | 15 Leeds Street |
| Principal Place of Business | Liverpool |
| L3 6HU | |
| Bankers | Barclays Bank PLC |
| 48B & 50 Lord Street | |
| Liverpool | |
| L2 1TD | |
| HSBC UK Bank plc | |
| 99-101 Lord Street | |
| Liverpool | |
| L2 6PG | |
| Solicitors | Weightmans LLP |
| The Plaza | |
| 100 Old Hall Street | |
| Liverpool | |
| L3 9QJ | |
| Auditors | Sumer Auditco Limited |
| Fourth Floor | |
| Unit 58 The Parklands | |
| Bolton | |
| BL6 4SD |
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CITY OF LIVERPOOL YOUNG MEN’S CHRISTIAN ASSOCIATION (INC.)
STRATEGIC REPORT
31 March 2025
The directors present the strategic report for the year ended 31 March 2025
Business review
The Directors are satisfied by the surplus achieved this year which was accomplished in a continuing difficult trading environment for charitable organisations generally. Income has grown by 29% in the year, mainly through full-year contributions from new services opened last year.
Again, this year, our dedicated staff team has gone above and beyond in delivering compassionate, impactful support to those experiencing homelessness. We have worked with 1,786 people this year, providing high quality accommodation and psychologically informed support.
We are well placed to build upon our position as a provider of choice for our services. The directors are confident that we will continue to fulfil our objectives in pursuit of our mission; together we will provide safe homes where people facing hardship feel seen, heard and empowered to move forward.
Main achievements during the year
The high level of commitment of our teams has ensured that standards have been maintained and all of our services remain in place, some of them with significant growth. In addition, this year we have bought 20 homes with funding through the Supported Housing Accommodation Programme. These homes provide a safe space for young people and intensive visiting support, working with the young people to focus on their assets and reduce the barriers they face so they have a future of their choosing.
Following significant growth over the last few years we have spent time building our internal capacity to continue to provide high quality, high impact services. We have increased our leadership team and embedded a new quality framework. Further details of our performance and achievements are contained within this Annual Report, which includes its Value for Money statement and from our website at www.ymcatogether.org.uk.
Future developments
We remain committed to working with partners, to maintain and improve upon existing service provision to the people we serve, as well as to develop new services to provide whole pathway solutions across homelessness, domestic abuse, drug and alcohol issues and poor mental health.
In the next twelve months we are working to drive forward the actions from our strategic plan, we are ambitious for the people we work alongside in the pursuit of our vision; together we will work to create a society where no one is left without a home, help or hope. Where every person is valued and given the chance to thrive.
We aim to keep our accommodation at affordable rents, and we will continue to invest in our properties, so they are kept in a properly maintained condition
Fixed Assets
Changes in fixed assets are given in note 8 to the financial statements.
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CITY OF LIVERPOOL YOUNG MEN’S CHRISTIAN ASSOCIATION (INC.)
STRATEGIC REPORT (continued)
31 March 2025
Key Policies
The Association has in place a range of key strategic and operational policies which are reviewed regularly and approved by the Board. As part of these we have a strategic risk register which sets out risks and their likelihood of occurrence. The document also covers the process for the monitoring and hence mitigation of risks where possible. Details of the Association’s financial risk management objectives and policies are disclosed in note 21 to the accounts.
Reserve Policy
The City of Liverpool YMCA reserves policy objective is to hold adequate funds to establish an appropriate level of working capital and to maintain the long-term viability of the organisation. Our aim is to retain sufficient free reserves equivalent to approximately six months forward expenditure to cover essential staff and overhead costs.
Revenue reserves represent: -
-
a) Funds that have been expended on financing fixed assets.
-
b) Funds required to settle liabilities in advance of the receipt of income relating thereto.
-
c) Funds arising from the excess of income over expenditure on the revenue account and which are freely available to spend.
The reserve policy adopted by the Board would mean there should be sufficient cash to run the hostel and maintain the small administration and management team for a period of six months. This would give the YMCA sufficient time to restructure in the event of a major change in circumstances. The amount would be about £300k to £350k.
Public benefit
The trustees confirm that they have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the charity’s aims and objectives (as set out above) and in planning future activities and setting appropriate policies for the year.
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CITY OF LIVERPOOL YOUNG MEN’S CHRISTIAN ASSOCIATION (INC.)
STRATEGIC REPORT (continued)
31 March 2025
Value for Money Metrics
The data has been calculated in accordance with the Value for Money Standard issued in April 2018. The Benchmark metrics are derived from VFM metrics attributable to YMCA St Helens, an organisation of a similar size to City of Liverpool Young Men’s Christian Association (INC).
| RE-INVESTMENT %AGE NEW SUPPLY - SOCIAL HOUSING %AGE NEW SUPPLY - NON-SOCIAL HOUSING %AGE GEARING EBITDA - MRI COVER HEADLINE SOCIAL HOUSING COST PER UNIT OPERATING MARGIN (SOCIAL HOUSING UNITS) OPERATING MARGIN (OVERALL) RETURN ON CAPITAL EMPLOYED (ROCE) |
YMCA ST HELENS |
YMCA CREWE |
YMCA LIVERPOOL | YMCA LIVERPOOL | ||
|---|---|---|---|---|---|---|
| 23/24 | 23/24 | 23/24 | 23/24 | 24/25 | 24/25 | |
| ACTUAL | ACTUAL | TARGET | ACTUAL | TARGET | ACTUAL | |
| 2.03% 0.00% 0.00% -6.50% 36 £ 13,225 9.75% 41.41% 11.05% |
0.59% 2.50% 0.00% -5.22% 15 £ 14,747 12.64% 8.79% 3.63% |
23.82% 0.00% 0.00% 0.00% - 0.1 £ 12,326 14.58% 3.25% 8.04% |
23.81% 0.00% 0.00% 11.00% 5.3 £ 20,666 15.00% 3.50% 9.00% |
27.90% 18.30% 0.00% 26.90% 5.7 £ 16,312 14.00% 3.70% 11.00% |
26.19% 15.50% 0.00% 21.55% 6.0 £ 19,978 16.60% 3.17% 9.63% |
By order of the Board
E. McNeil Secretary
15 September 2025
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CITY OF LIVERPOOL YOUNG MEN’S CHRISTIAN ASSOCIATION (INC.)
DIRECTORS’ REPORT
31 March 2025
The directors present their report and accounts for the year ended 31 March 2025
Principal activities
The City of Liverpool YMCA continues to carry on developing and extending the work of the YMCA in Liverpool and Merseyside on a strictly non-political and non-sectarian basis and generally to provide and assist the advancement of the spiritual, intellectual and physical condition of young people in accordance with and by such means as are consistent with the recognised principles and objectives of the Young Men’s Christian Association. YMCA is a Christian Organisation which helps homeless people work through the issues that have made them homeless by providing residential and support services.
Status
The Association is a registered charity (charity number 210443), is limited by guarantee and does not have a share capital. The company (company number 00560870) is also required to comply with accounting requirements for Registered Social Landlords (H1720).
Directors
M Barker Chair W Lawlor (Retired 12/09/2024) M Compton-Rickett S Abrams (Retired 31/03/2025) Revd M Montrose J Price R Spowart (Retired 12/09/2024) C White M Farran H Klepper J Fadden T Allen Dr JA Hussey (Appointed 12/09/2024)
Corporate Governance and Internal Control
The Association’s Directors act on a voluntary basis. The Association has in place a Board and Committee Structure and meetings take place on a regular basis. The Board carries out reviews of its composition and effectiveness to ensure that its members have a broad range of skills to allow the effective discharge of its responsibilities. An independently facilitated review of Board performance has been commissioned and is currently in progress.
The functions of the Board are formally recorded in the Association’s rules and standing orders. Responsibility for dayto-day management is delegated by the Board to the executive officers; however, the Board have ultimate responsibility for internal controls. The Board receives regular management information and is responsible for the approval of annual budgets and accounts. Information available indicates that the Association is a going concern.
Internal audit work is undertaken relevant to the nature and scale of operations of the Association. The results of this work are regularly reported to the Board. Each trustee holds their own portfolio of work such as HR, Finance, standards etc. Trustees are appointed when the work of the charity expands giving rise to new portfolios or when an existing trustee resigns. In these circumstances the resigning trustee recommends a replacement, or the trustees advertise the vacancy through adverts or word of mouth. Applicant trustees are interviewed by the Chair and the Secretary and if suitable are nominated to be co-opted on to the Board of Trustees. At the AGM co-opted trustees may be appointed as trustees.
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CITY OF LIVERPOOL YOUNG MEN’S CHRISTIAN ASSOCIATION (INC.)
DIRECTORS’ REPORT (continued)
31 March 2025
The ongoing training of trustees is described in the Trustee’s Handbook and organised by the CEO. At each November board meeting training needs of trustees are agreed for the following year. The Board of Trustees have established an audit committee with a brief to strengthen and improve systems of internal control, in particular, through closer liaison with internal and external auditors.
The Association’s statement on its system of Internal Control under Housing Corporation Circular 25/01 is given on page 8.
The Board has reviewed future forecasts and consider that the Association has adequate resources to continue in operational existence for the foreseeable future and therefore continues to adopt the going concern basis in preparing accounts.
Results
The surplus for the year was £344,480 (2024: £237,430).
Auditors
Sumer Auditco Limited is deemed to be reappointed under section 487(2) of the Companies Act 2006.
Statement as to disclosure of information to auditors
The directors who were in office on the date of approval of these financial statements have confirmed, as far as they are aware, that there is no relevant audit information of which the auditors are unaware. Each of the directors have confirmed that they have taken all the steps that they ought to have taken as directors in order to make themselves aware of any relevant audit information and to establish that it has been communicated to the auditor.
By order of the Board
E. McNeil Secretary
15 September 2025
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CITY OF LIVERPOOL YOUNG MEN’S CHRISTIAN ASSOCIATION (INC.)
STATEMENT OF DIRECTORS’ RESPONSIBILITIES
The directors are responsible for preparing the Annual Report and the financial statements in accordance with the applicable law and United Kingdom Accounting Standards including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
Company and registered social landlord legislation requires the directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the directors are required to:
-
select suitable accounting policies and then apply them consistently.
-
observe the method and principles in the Charities SORP.
-
make judgements and estimates that are reasonable and prudent.
-
state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements.
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The directors are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
In so far as the Directors are aware:
-
there is no relevant audit information of which the charitable company’s auditor is unaware; and
-
the Directors have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.
The Directors are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
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CITY OF LIVERPOOL YOUNG MEN’S CHRISTIAN ASSOCIATION (INC.)
STATEMENT ON THE ASSOCIATION’S SYSTEM OF INTERNAL CONTROL
The Board are responsible for the Association’s system of internal controls. They recognise that such a system can provide reasonable, but not absolute, assurance against material misstatement or loss. The main features of the internal control system are:
-
Written standing orders and financial regulations which delineate responsibilities and levels of authorities.
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A rolling three-year Business Plan which is reviewed annually at a board planning event in November.
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A Risk Register which is formally reviewed at the annual Board planning day and reported on at each board planning meeting.
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Annual budgets, set in the context of a longer-term business plan with clear accountability for control of each part of the budget.
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Formal budgetary control arrangements with a monthly reporting cycle.
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Detailed performance reports to each board meeting which include progress against key objectives and risk exposures.
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Board approval of policies and procedures.
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Board review of their effectiveness.
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The use of an internal audit function working in accordance with a programme established through an Audit Needs Assessment.
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An Audit Committee which liaises with internal and external auditors to review and improve systems of internal control and risk management.
The Board will continue to annually review the effectiveness of its systems of internal control and in the coming year will establish formal systems for the stress testing of Business Plans in keeping with regulatory requirements.
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INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE
CITY OF LIVERPOOL YOUNG MEN’S CHRISTIAN ASSOCIATION (INC.)
Opinion
We have audited the financial statements of City of Liverpool Young Men’s Christian Association for the year ended 31 March 2025 which comprise the Summary Income and Expenditure Accounts, the Balance Sheet, including a summary of significant accounting policies and related notes, and the Cash Flow Statement. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
-
Give a true and fair view of the state of the charity’s affairs as at 31 March 2025 and of its income and expenditure for the year then ended.
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Have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice.
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• Have been prepared in accordance with the requirements of the Companies Act 2006, the Housing and Regeneration Act 2008 and the Accounting Direction for Private Registered Providers of Social Housing 2022.
Basis for Opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Other Information
The trustees are responsible for the other information. The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
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INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE
CITY OF LIVERPOOL YOUNG MEN’S CHRISTIAN ASSOCIATION (INC.)
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the Charity and its environment obtained in the course of the audit. We have not identified material misstatements in the Trustees’ Annual Report.
We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 requires us to report to you if, in our opinion:
-
adequate accounting records have not been kept.
-
the financial statements are not in agreement with the accounting records and returns; or
-
we have not received all the information and explanations we require for our audit; or
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the trustees were not entitled to prepare the financial statements in accordance with the small companies’ regime and take advantage of the small companies’ exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Trustees.
Responsibilities of the trustees
As explained more fully in the trustees’ responsibilities statements, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as they determine is necessary to enable the preparation of the financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the Charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the Charity or to cease operations, or have no realistic alternative but to do so.
Our responsibilities for the audit of the financial statements
The trustees have elected for the financial statements to be audited in accordance with the Charities Act 2011 rather than the Companies Act 2006. Accordingly, we have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with regulations made under section 154 of that act.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
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INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE
CITY OF LIVERPOOL YOUNG MEN’S CHRISTIAN ASSOCIATION (INC.)
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below:
We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, and through discussions with the directors (as required by auditing standards) and discussed with the directors the policies and procedures regarding compliance with laws and regulations. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit. The potential effect of these laws and regulations on the financial statements varies considerably.
Firstly, the company is subject to laws and regulations that directly affect the financial statements including financial reporting legislation and taxation legislation. We assessed the extent of compliance with these laws and regulations as part of our procedures on the related financial statement items.
Secondly, the company is subject to many other laws and regulations where the consequences of non-compliance could have a material effect on amounts or disclosures in the financial statements, for instance through the imposition of fines or litigation. We identified the following areas as those most likely to have such an effect: Companies Act 2006, Charities Act 2011, Health and Safety at Work Act and Employment Law.
Auditing standards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the directors and inspection of regulatory and legal correspondence, if any. Through these procedures we did not become aware of any actual or suspected non-compliance.
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non-compliance with laws and regulations (irregularities) is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit, there remained a higher risk of nondetection of irregularities, as these may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.
We design procedures in line with our responsibilities, outlined below to detect material misstatement due to fraud:
-
might occur in the financial statements and any potential indicators of fraud.
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Identifying and assessing the design and effectiveness of controls that management have in place to prevent and detect fraud; and
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Detecting and responding to the risks of fraud following discussions with management and enquiring as to whether management have knowledge of any actual, suspected or alleged fraud.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: [www.frc.org.uk/auditorsresponsibilities]. This description forms part of the auditor’s report.
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INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF THE
CITY OF LIVERPOOL YOUNG MEN’S CHRISTIAN ASSOCIATION (INC.)
Use of our report
This report is made solely to the charity’s trustees, as a body, in accordance with Sections 144 of the Charities Act 2011 and the regulations made under Section 154 of that Act. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept any responsibility to anyone other than the charity or the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Sumer Auditco Limited Statutory Auditor Fourth Floor Unit 5B The Parklands Bolton BL6 4SD
15 September 2025
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CITY OF LIVERPOOL YOUNG MEN’S CHRISTIAN ASSOCIATION (INC.)
INCOME AND EXPENDITURE ACCOUNT
for the year ended 31 March 2025
| 2025 | 2024 | ||
|---|---|---|---|
| Note | £ | £ | |
| Turnover | 2,3 | 15,530,972 | 12,034,692 |
| Operating costs | 3 | (15,186,492) | (11,797,272) |
| Operating surplus | 344,480 | 237,420 | |
| Interest receivable and other income | 6 | 0 | 10 |
| Surplus after exceptional and ordinary activities | |||
| before and after taxation | 344,480 | 237,430 |
All amounts relate to continuing activities.
There are no recognised gains or losses other than the result for the year.
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CITY OF LIVERPOOL YOUNG MEN’S CHRISTIAN ASSOCIATION (INC.)
BALANCE SHEET
at 31 March 2025
| Note Fixed assets Housing properties – depreciated cost 8 Less: Social housing grant Other grants Other fixed assets 8 Current assets Debtors 9 Cash at bank and in hand Creditors:amounts falling due within one year 10 Net current assets Creditors:amounts falling due after more than one year 10 Pension Deficit 11 Net assets Capital and reserves Called up share capital 13 Revenue reserves 14 Total funds 15 |
2025 £ £ 10,858,020 (5,011,567) (863,043) 4,983,410 828,534 5,811,944 1,809,517 1,573,340 3,382,857 (1,710,792 1,672,065 (2,655,840) (35,340) 4,792,829 - 4,792,829 4,792,829 |
2024 £ £ 8,500,705 (3,685,000) (863,043) 3,952,662 599,757 4,552,419 1,214,508 751,763 1,966,271 (866,513) 1,099,758 (1,156,093) (47,735) 4,448,349 - 4,448,349 4,448,349 |
|---|---|---|
The financial statements on pages 13 to 28 were approved by the Board of Directors and authorised for issue on 15 September 2025 and signed on its behalf by:
| M. Barker | - | Director |
|---|---|---|
| T Allen | - | Director |
Company Registration No. 00560870
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CITY OF LIVERPOOL YOUNG MEN’S CHRISTIAN ASSOCIATION (INC.)
CASH FLOW STATEMENT
for the year ended 31 March 2025
| Note Cash (used) by operating activities 20 Cash flows from investing activities Sale of tangible assets Purchase of tangible fixed assets Bank Loan Interest received Cash (used in) investing activities (Decrease) in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Total cash and cash equivalents at the end of the year |
2025 £ 889,840 - (1,581,607) 1,513,344 - (68,263) 821,577 751,763 1,573,340 |
2024 £ (114,119) - (804,025) 371,323 10 (432,692) (546,891) 1,298,654 751,763 |
|
|---|---|---|---|
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CITY OF LIVERPOOL YOUNG MEN’S CHRISTIAN ASSOCIATION (INC.)
NOTES ON FINANCIAL STATEMENTS
31 March 2025
1 Accounting policies
Company information
City of Liverpool Young Men’s Christian Association (INC.) is a company limited by guarantee incorporated in England and Wales. The registered office is 15 Leeds Street, Liverpool, L3 6HU.
Basis of accounting
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102),the Companies Act 2006 and the statement of Recommended Practice for registered housing providers;:Housing SORP 2018.
The financial statements also comply with Schedule 1 to the Housing Act 1996, the Housing and Regeneration Act 2008 and follow the recommendations of the Statements of Recommended Practice for Registered Social Housing 2022.
City of Liverpool Young Men’s Christian Association (INC.) meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
Turnover
Turnover represents social housing rental income receivable, revenue grants from Local Authorities and donations and other operating income of the Association (excluding VAT).
Gifts in kind and donations
Donations include the value of assets donated to the Association which are readily marketable. Gifts in kind are included at their value to the Association; this includes gifts of land and salary costs borne by third parties.
Other grants
Capital grants are deducted from the cost of capital expenditure and revenue grants included as income in the income and expenditure account.
Going concern
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
16
Docusign Envelope ID: DFE8F32B-8BBF-47B4-AAE1-0F768FBE5DD2
CITY OF LIVERPOOL YOUNG MEN’S CHRISTIAN ASSOCIATION (INC.)
NOTES ON FINANCIAL STATEMENTS
31 March 2025 (Continued)
1 Accounting policies (continued)
Pension costs
The charity makes payments on a money purchase (defined contribution) basis to the individual personal pension schemes of the employees. Contributions payable to this scheme are charged to the profit and loss account in the period to which they relate. These contributions are invested separately from the company’s assets in the individuals own personal pension schemes. The individual employees bear all the risk of future returns on the investment performance of the funds invested in their own individual pension fund.
Value added tax
The Association charged value added tax (VAT) as appropriate on its income and similarly appropriately recovered VAT incurred on expenditure. The balance of VAT payable at year end is included as a current liability.
Fixed assets
Housing land and buildings
Housing properties are stated at cost. It is the policy only to include costs of construction where the certificate is dated before the period end. No development overheads have been capitalised.
Depreciation
i) Housing properties
Depreciation of housing properties is effectively recognised by writing down the cost net of grants at rates of 2-4% per annum on the straight-line basis. Land is not depreciated.
ii) Other fixed assets
The following rates apply: Fixtures and fittings - 10-33% per annum on cost Computer equipment - 33% per annum on cost Motor vehicle - 25% per annum on cost
Operating leases
Operating lease rentals are charged in the income and expenditure account on a straight-line basis over the lease term.
Deferred income
Where revenue grants are received covering expenditure planned beyond the current year, the element of grant received in advance is carried forward.
2
Turnover
| Turnover comprises: Residents’ charges (see note 3) Government grants Sundry income Appeal donations |
2025 £ 8,046,772 5,042,919 2,431,243 10,038 15,530,972 |
2024 £ 6,314,682 4,531,456 1,173,016 15,538 12,034,692 |
|---|---|---|
17
Docusign Envelope ID: DFE8F32B-8BBF-47B4-AAE1-0F768FBE5DD2
CITY OF LIVERPOOL YOUNG MEN’S CHRISTIAN ASSOCIATION (INC.)
NOTES ON FINANCIAL STATEMENTS
31 March 2025
(Continued)
3 a.
Rent
| 3 a. Rent |
3 a. Rent |
3 a. Rent |
||
|---|---|---|---|---|
| Rent charges receivable Service charges receivable Rental income relates to 52 weeks (2024: 52 weeks) |
2025 £ 2,414,032 5,632,740 8,046,772 |
2024 £ 1,894,404 4,420,278 6,314,682 |
||
| b. Particulars of turnover, operating costs and operating surplus |
||||
| 2025 Supported housing 2024 Supported housing |
Turnover £ 15,530,972 £ 12,034,692 |
Operating costs £ (15,186,492) £ (11,797,272) |
Operating surplus £ 344,480 £ 237,420 |
Operating costs include unpaid rent charges written off £0.00 (2024: £113,382).
c. Expenditure
| Costs of generating funds Cost of charitable activities Total |
2025 £ - (15,186,492) (15,186,492) |
2024 £ |
|---|---|---|
| - (11,797,272) |
||
(11,797,272) |
18
Docusign Envelope ID: DFE8F32B-8BBF-47B4-AAE1-0F768FBE5DD2
CITY OF LIVERPOOL YOUNG MEN’S CHRISTIAN ASSOCIATION (INC.)
NOTES ON FINANCIAL STATEMENTS
31 March 2025 (Continued)
d. Particulars of income and expenditure from social housing lettings
| 2025 | 2024 | |
|---|---|---|
| Supported | Supported | |
| housing | housing | |
| £ | £ | |
| Rent receivable net of voids | ||
| and identifiable service charges | 2,414,032 | 1,894,404 |
| Service income | 5,632,740 |
4,420,278 |
| Turnover from social housing | ||
| lettings | 8,046,772 | 6,314,682 |
| Government grants | 5,042,919 | 4,531,456 |
| Sundry income | 1,402,069 | 1,173,016 |
| Appeals donations | 10,038 |
15,538 |
| Total Income | 15,530,972 |
12,034,692 |
| Expenditure | ||
| Salaries | (8,255,710) | (6,103,657) |
| Other operating costs | (6,930,782) |
(5,693,615) |
| Total Expenditure | (15,186,492) |
(11,797,272) |
| Operating Surplus | 344,480 |
237,420 |
| Voids losses | (568,001) |
(284,161) |
Rent receivable, service income, losses from voids, general salaries and other operating costs have all been apportioned on the basis of 502 (2024: 540) bed spaces under management during the year. See note 19.
19
Docusign Envelope ID: DFE8F32B-8BBF-47B4-AAE1-0F768FBE5DD2
CITY OF LIVERPOOL YOUNG MEN’S CHRISTIAN ASSOCIATION (INC.)
NOTES ON FINANCIAL STATEMENTS
31 March 2025 (Continued)
4 Operating surplus
| 31 March 2025 (Continued) perating surplus |
||
|---|---|---|
| 2025 | 2024 | |
| This is stated after charging the following: | £ | £ |
| Depreciation – Tangible fixed assets | 322,082 | 324,374 |
| Auditor’s remuneration – in their capacity as auditors | 12,000 | 10,000 |
| Auditor’s remuneration – non audit capacity | 540 | 180 |
| Operating leases – Equipment | 52,901 | 47,028 |
| Operating leases – Property | 2,720,825 |
2,141,303 |
5 Directors and employees
Directors’ emoluments
The directors received no remuneration or payments for expenses in the current or prior year.
Staff costs
Aggregate amounts for staff paid in respect of:
| Wages and salaries Social security costs Pension costs Cost of living payment The average monthly number of employees (full-time equivalents) employed during the year was as follows: Administration Housing Support Nursery |
5,886,115 1,762,781 409,124 - 8,058,020 Number 33 48 145 0 226 |
5,481,841 473,080 148,736 - 6,103,657 |
|---|---|---|
| Number 22 62 105 11 200 |
One employee received emoluments greater than £80,000 during the year (2024:1 greater than £80,000).
6 Interest receivable and other income
| Bank deposit interest | 2025 £ |
2025 £ |
|---|---|---|
| - | 10 | |
7 Tax on ordinary activities
There is no liability to corporation tax on the result for the year as the Association claims charitable relief under the Finance Act 2010 in respect of the majority of its activities. Taxation losses arise in respect of activities which may not be classed as charitable for taxation purposes.
20
Docusign Envelope ID: DFE8F32B-8BBF-47B4-AAE1-0F768FBE5DD2
CITY OF LIVERPOOL YOUNG MEN’S CHRISTIAN ASSOCIATION (INC.)
NOTES ON FINANCIAL STATEMENTS
31 March 2025 (Continued)
8 Fixed assets - Tangible
| Cost or valuation Freehold property Fixtures and fittings Computer equipment Motor vehicles Total Other grant Futures project funding Empty Homes project funding Our House property donation Total Social Housing grant Leeds Street Liverpool Dispersed Property Total Depreciation Freehold property Fixtures and fittings Computer equipment Motor vehicles Total |
At 1 April 2024 £ 9,695,719 2,114,427 197,194 10,495 12,017,835 At 1 April 2024 £ (228,962) (334,081) (300,000) (863,043) (3,100,000) (585,000) (3,685,000) At 1 April 2024 £ (1,195,015) (1,560,864) (151,000) (10,495) (2,917,374) |
Additions £ 2,474,389 404,703 29,082 - 2,908,174 Additions £ - - - - - (1,326,567) (1,326,567) Charged in year £ (117,074) (185,520) (19,488) - (322,082) |
Disposals £ - - - - - Disposals £ - - - - - - - Disposals £ - - - - - |
Transfers £ - - - - - Transfers £ - - - - - - - Transfers £ - - - - - |
At 31 March 2025 £ 12,170,108 2,519,131 226,276 10,495 14,926,010 At 31 March 2025 £ (228,962) (334,081) (300,000) (863,043) (3,100,000) (1,911,567) (5,011,567) At 31 March 2025 £ (1,312,089) (1,746,384) (170,488) (10,495) (3,239,456) |
|---|---|---|---|---|---|
21
Docusign Envelope ID: DFE8F32B-8BBF-47B4-AAE1-0F768FBE5DD2
CITY OF LIVERPOOL YOUNG MEN’S CHRISTIAN ASSOCIATION (INC.)
NOTES ON FINANCIAL STATEMENTS
31 March 2025 (Continued)
| Net book value Freehold property Fixtures and fittings Computer equipment Motor vehicles Total |
At 1 April 2024 £ 3,952,662 553,563 46,194 - 4,552,419 |
At 31 March 2025 £ 4,983,409 772,747 55,788 5,811,944 |
|---|---|---|
Other grants comprise National Lottery Charities Board funding of £165,903 (2024: £165,903), European Regional Development funding of £63,059 (2024: £63,059), Empty Homes Community Grants funding of £334,081 (2024: £334,081), Homes England Grants funding of £1,911,567 (2024: £585,000) and a capital donation from a YMCA Supporter of £300,000 (2024: £300,000). All these grants are treated as restricted. The Housing Corporation grant of £3,100,000 (2024: £3,100,000) was made in connection with the Leeds Street building. The grant is repayable only in the event of a sale of the property.
22
Docusign Envelope ID: DFE8F32B-8BBF-47B4-AAE1-0F768FBE5DD2
CITY OF LIVERPOOL YOUNG MEN’S CHRISTIAN ASSOCIATION (INC.)
NOTES ON FINANCIAL STATEMENTS
31 March 2025 (Continued)
| 9 Debtors Amounts falling due within one year Rental debtors Less provision for unpaid rent charges Other debtors Prepayments Amounts falling due after more than one year Other debtors 10 Creditors Amounts falling due within one year Trade creditors Other creditors Accruals and deferred income (see note 12) VAT and social security costs Bank Loan Amounts falling due after one year Bank Loan |
2025 £ 983,495 (221,682) 549,053 426,812 71,839 1,809,517 2025 £ 81,587 115,087 1,311,008 174,283 28,827 1,710,792 2,655,840 2,655,840 |
2024 £ 365,314 - 637,264 156,481 55,449 1,214,508 2024 £ 356,659 64,510 304,050 126,064 15,230 866,513 1,156,093 1,156,093 |
|
|---|---|---|---|
The Charity Bank loan has been secured by a fixed legal mortgage charge against property owned by the charity.
23
Docusign Envelope ID: DFE8F32B-8BBF-47B4-AAE1-0F768FBE5DD2
CITY OF LIVERPOOL YOUNG MEN’S CHRISTIAN ASSOCIATION (INC.)
NOTES ON FINANCIAL STATEMENTS
31 March 2025 (Continued)
11 Pension Deficit
YMCA Liverpool has in the past employed staff who were members of the YMCA Pension and Assurance Plan. This is a multi-employer pension plan for employees of YMCA England and member YMCA’s. YMCA Liverpool currently has no members in the pension plan and is classed as a dormant YMCA for pension purposes.
The latest valuation prepared as at 1 May 2024 showed that the YMCA Pension Plan had a deficit of £4.6 million. YMCA Liverpool’s share of the deficit amounts to £48,862 (2024: £61,256).
The liability will be payable over a period of 4 years at the rate of £13,522 per annum, commencing 1[st] May 2025.
The pension deficit has been classified as follows:
| Amounts due within one year (included within other creditors) Amounts due after one year |
2025 £ 13,522 35,340 48,862 |
2024 £ 13,522 47,734 61,256 |
|---|---|---|
24
Docusign Envelope ID: DFE8F32B-8BBF-47B4-AAE1-0F768FBE5DD2
CITY OF LIVERPOOL YOUNG MEN’S CHRISTIAN ASSOCIATION (INC.)
NOTES ON FINANCIAL STATEMENTS
31 March 2025 (Continued)
12 Accruals and deferred income
| Deferred income at 1 April Grant income received in the year Grant expended in the year Deferred income at 31 March Accruals |
2025 £ 146,718 2,297,920 (1,356,680) 1,087,958 223,050 1,311,008 |
2024 £ 1,170,666 243,711 (1,267,659) 146,718 157,332 304,050 |
|---|---|---|
Deferred Income
| Cost or valuation Mainstay Invoices Mersey Care Nightingale Mersey Care Stepping Stones Safer Accommodation Dutch Farm funding YMCA Room Sponsorship Total |
At 1 April 2024 £ - - 106,711 - 40,007 - 146,718 |
Grant Income Received £ 277,264 1,078,054 831,241 42,929 50,000 18,432 2,297,920 |
Grant Expended £ (273,661) (531,060) (461,952) - (90,007) - (1,356,680) |
At 31 March 2025 £ 3,603 546,994 476,000 42,929 - 18,432 |
|---|---|---|---|---|
| 1,087,958 |
Deferred income relates to grants received in the year in respect of specific projects, which has been deferred to match it against the projects’ expenditure in the period to which it relates.
13 Share capital
The Association, which does not have a share capital, is limited by guarantee whereby members contribute up to a maximum of £1 each should there be a deficiency on winding up.
25
Docusign Envelope ID: DFE8F32B-8BBF-47B4-AAE1-0F768FBE5DD2
CITY OF LIVERPOOL YOUNG MEN’S CHRISTIAN ASSOCIATION (INC.)
NOTES ON FINANCIAL STATEMENTS
31 March 2025 (Continued)
14 Revenue reserves
| At 1 April Surplus for the year At 31 March 15 Reconciliation of movements in members’ funds Total funds as at 1 April Surplus for the year Total funds as at 31 March |
2025 £ 4,448,349 344,480 4,792,829 2025 £ 4,448,349 344,480 4,792,829 |
2024 £ 4,210,919 237,430 4,448,349 2024 £ 4,210,919 237,430 4,448,349 |
|---|---|---|
16 Social Housing and other grants
The cumulative Social Housing Grant received by the Association in respect of property is £5,011,567 (2024: £3,685,000). Other grants comprise of £165,903 from National Lottery Charities Board, £63,059 from European Regional Development, Empty Homes Community Grants funding of £334,081, and a capital donation from a YMCA supporter of £300,000.
17 Legislative provisions
The Association is a charitable company (charity number 210443) limited by guarantee. The Association is also required to comply with Registered Social Landlord accounting requirements.
18 Operating leases
At the reporting end date the company had outstanding commitments for future minimum lease payments under noncancellable operating leases, which fall due as follows:
| Expiring within 1 year Expiring between 2 – 5 years Property leases Expiring within 1 year Expiring between 2 – 5 years Over 5 years |
2025 £ 37,406 72,629 ___ 110,035 2025 £ 1,743,739 4,340,590 656,542 6,740,871 |
2024 £ 44,558 110,035 154,593 2024 £ 1,031,653 2,375,494 489,100 3,896,247 |
|---|---|---|
26
Docusign Envelope ID: DFE8F32B-8BBF-47B4-AAE1-0F768FBE5DD2
CITY OF LIVERPOOL YOUNG MEN’S CHRISTIAN ASSOCIATION (INC.)
NOTES ON FINANCIAL STATEMENTS 31 March 2025 (Continued)
19 Bed spaces
| 2025 Number Under management at the end of the year: Homeless Units 368 Community Units 174 Housing Units 0 Total 542 |
2024 Number 323 167 50 540 |
|---|---|
20 Reconciliation of net movement in funds to net cash flow from operating activities
| Net movement in funds Depreciation charges Interest receivable Decrease/(Increase) in debtors (Decrease)/Increase in creditors Net cash (used)/generated by operating activities |
2025 £ 344,480 322,082 - (595,009) 818,287 889,840 |
2024 £ 237,430 324,374 (10) 46,133 (722,126) (114,199) |
|---|---|---|
For the purposes of FRS 102 the Association classifies all deposits which can be accessed on demand as cash, rather than liquid resources. Therefore, cash includes deposits where immediate access would incur a loss of interest.
27
Docusign Envelope ID: DFE8F32B-8BBF-47B4-AAE1-0F768FBE5DD2
CITY OF LIVERPOOL YOUNG MEN’S CHRISTIAN ASSOCIATION (INC.)
NOTES ON FINANCIAL STATEMENTS
31 March 2025 (Continued)
21 Financial risk management objectives and policies
The association holds or issues financial instruments in order to achieve three main objectives, being:
- (a) to finance its operations;
(b) to manage its exposure to interest and currency risks arising from its operations and from its sources of finance; and
(c) for trading purposes.
In addition, various financial instruments (e.g. rental debtors, trade creditors, accruals and prepayments) arise directly from the association’s operations.
Transactions in financial instruments result in the association assuming or transferring to another party one or more of the financial risks described below.
Credit Risk
The association monitors credit risk closely and considers that its current policies of credit check meets its objectives of managing exposure to credit risk.
The association has no significant concentrations of credit risk. Amounts shown in the balance sheet best represent the maximum credit risk exposure in the event other parties fail to perform their obligations under financial instruments.
28